This Week in Bitcoin: BTC Plunges as US Gets Go-Ahead to Sell Silk Road Billions
Bitcoin reached over $100,000 for the first time in 2025 but faced a decline due to mixed economic reports and volatility surrounding ETF flows. A significant factor contributing to the drop was the Federal Reserve's indication of pausing interest rate cuts amidst concerns of inflation, coupled with low unemployment reports. After hitting a high of $102,290, Bitcoin fell to below $92,000 before recovering slightly to around $94,400, representing a nearly 4% drop over the week. Additionally, the U.S. government's decision regarding the potential sale of over 69,000 Bitcoin seized from the Silk Road could exert further selling pressure on Bitcoin's market price. Amid these events, several states and companies are exploring the inclusion of Bitcoin as a reserve asset, reflecting a broader institutional interest. This week also marked a setback for an individual attempting to recover lost Bitcoin from a landfill, as a UK court denied his appeal.
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